Investment Highlights
- Brand New Construction; Opening September 2019
- Long-Term, 15-Year Absolute Triple Net Lease
- Lease Commencement Upon Close of Escrow
- Four, Five-Year Tenant Renewal Options with Eight Percent Rental Increases Every Five Years
- Dense Retail Corridor | Walmart, AMC Theatres, Kohl’s, Staples, HomeGoods, Burger King, Texas Roadhouse, Chili’s, as well as Many Others
- Strong Academic Presence | Less Than Ten Miles From Arizona State University | Over 42,400 Students Enrolled Excellent Demographics | Population Exceeds 417,720 Individuals Within a Five-Mile Radius and 1,118,920 Individuals Within a Ten-Mile Radius
- Positive Real Estate Fundamentals | Within Six Miles of Phoenix Sky Harbor International Airport -Serves Over 40 Million Passengers Annually | Less Than 20 Miles From Downtown Phoenix
- Strong Traffic Counts | Over 46,430 and 237,700 Vehicles Per Day Along S. Stapley Drive and U.S. Route 60
Investment Overview
Marcus & Millichap is pleased to present the exclusive listing for a brand-new Panera Bread located at 1705 S. Stapley Drive in Mesa, Arizona. This is a rare investment opportunity to participate in a direct sale leaseback with Panera Bread. The newly constructed site will consist of roughly 4,425 rentable square feet of building space on estimated 1.99-acre parcel of land. The café is scheduled to open in September of 2019.
Panera, LLC, the corporate operating entity, will enter into a brand new 15-year triple-net (NNN) sale leaseback with the purchaser upon close of escrow. The initial annual rent will be $190,461 and will increase by eight percent every five years throughout the term of the lease and in each option period. There will be four, five-year tenant renewal options, extending the total possible lease term to 35 years.
Broker of Record
Ryan Sarbinoff
Regional Manager
Arizona
Lic.# BR675146000
